MeridianLink, Inc.: restructuring charge — MeridianLink cuts ~9% of workforce, expects $3.3M-$4.3M in restructuring charges

MeridianLink, Inc.

Workforce reduction of approximately 9% authorized by Board on Jan 8, 2024.
Estimated charges of $3.3M to $4.3M, primarily cash severance, benefits, and transition costs.
Actions substantially complete by end of Q1 2024, subject to local law and consultation.
Departing employees get 8 weeks severance + 2 weeks per year of service (up to 26 weeks), plus up to 3 months COBRA and outplacement support.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

MeridianLink, Inc. announced a restructuring with charges of approximately $3.3 million to $4.3 million affecting the entire organization, with the largest impact in technology and R&D (approximately 9%).

Type: restructuring
Charge: approximately $3.3 million to $4.3 million
Affected area: the entire organization, with the largest impact in technology and R&D
Headcount: approximately 9%

Exact text from the filing

of strategic importance. The Plan includes a reduction of the Company’s current workforce by approximately 9%. The Company estimates that it will incur charges of approximately $3.3 million to $4.3 million in connection with the Plan, consisting primarily of cash expenditures and relating to employee severance payments, employee benefits, and employee transition

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Source: SEC EDGAR

accession 0001834494-24-000012

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